I think seven is very unlikely. I see a lot of likely teams and five locks this year. Before today, I would have felt bad about taking that bet. With both Cinci and USF beating top20 teams, I would guess 8, as the imaginary cap is back in place, and they will take ANY team aside from the one team that breaks the brackets.
In three years when every BCS conference has 16, no such limit will restrict teams from getting in, and second round meetings of conference mates might be common, but the Big East might not exist at that time.
I think it is likely that UConn flames out entirely. Losing to Providence was embarrassing and maybe season killing. They put too much emotion in the against us. One of USF or WVU has to lose that game... Every other game on the schedule and the BET layout gives 8+ bids a chance. UConn has the number one SOS and is still 35 in RPI. Remember that there are 38 At Large bids. A 35 RPI will always get in. Their worst loss was at Providence this week, but they have a stellar OOC record. They have a chance to get a win against Pitt to secure a bid and then have some BET games against weak competition. Then there is the X factor of the committee not wanting to leave out last years champion. There is a reason these meetings are secret. I think UConn gets in, maybe even if they lose out, just because of their SOS. But I don't think that happens if another Big East team is the one that gets knocked out.
As a conference, we need a lot of bubble team victories over bad teams, and then some good bounces in the BET. 10 is a strong possibility. Would I bet on 10-1 odds? 100-1? Definitely. I think 8 bids is a lock, but it will be much harder to get to 9 if any team is nearly good enough to knock us out, because then the Big East could get too much of the Sweet 16, and they will put us all against each other in the second round.
EDIT, one last thing: The second ranked conference has usually gotten half or more of its teams. With the Big East being there, we have a chance of knocking out mid level BCS teams from lesser conferences.